European shares rise, Bunds fall after U.S. jobs report

3 August 2012


Most certainly a ‘risk on’ day…enjoy it while it lasts!

European shares extended gains, while German Bundfutures fell on Friday after U.S. non-farm payroll data came out stronger than expected, boosting appetite for riskier assets.

Non-farm payrolls rose 163,000 last month, the Labor Department said on Friday, beating economists’ expectations for a 100,000 gain.

The FTSEurofirst 300 index extended its gains after the data. The index was up 1.8 percent, having been up by 1.5 percent before the data was published.

Safe-haven Bund futures fell as low as 143.63, down 125 ticks on the day. That compared with levels of around 143.95 before the release.

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